Logistics services provider TCI Express Ltd. said its hiring model helped defy lower freight rates.
“We operate on a different model. We have a vendor-based system and don't really hire on the spot. Hence, we are not really impacted by weaker freight rates,” Managing Director Chander Agarwal told BloombergQuint during an interview.
Freight prices haven't recovered after falling from their November 2017 peak, barring a brief spurt when demand rose as dealers restocked after the goods and services tax disruption.
However, “we do look at the fuel price, since this is a major cost component for our vendors,” Agarwal said. “We have a certain parameter that we follow for the pricing.”
Watch the full interview here:
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